@shopadam wrote:
I'm not sure what to do since this has never happened to me with any other company that I worked for. I don't want to put in the income and expenses and have it questioned. I'm wondering if it is worth leaving it off my return and then if I have to...amend my return? Anyone else have a thought?
@shopadam wrote:
I heard from the company today and they are not required to send out 1099's since they pay by Paypal. They said Paypal does not have to send one out unless you make over $20,000. I guess this solves the fact that Automotive Insights does not report to the IRS.
@shopadam wrote:
I heard from the company today and they are not required to send out 1099's since they pay by Paypal. They said Paypal does not have to send one out unless you make over $20,000. I guess this solves the fact that Automotive Insights does not report to the IRS.
@nslinhar wrote:
Thank you for the clarification. I recall seeing that somewhere. But it still does not explain how it is a fact Automotive Insights does not report to the IRS.
@myst4au wrote:
By IRS regulation, the reporting responsibility is transferred to PayPal. I think that is another reason that many MSCs like to use PayPal. It makes their reporting responsibility much easier. I am sure that they still aggregate all payments to shoppers as a business expense on their own income tax return.@nslinhar wrote:
Thank you for the clarification. I recall seeing that somewhere. But it still does not explain how it is a fact Automotive Insights does not report to the IRS.